Because there's a near monopoly on phone service, and little regulation to prevent the phone company from iterating and iterating fast. It also means that the

Because there's a near monopoly on phone service, and little regulation to prevent the phone company from iterating and iterating fast. It also means that the necessary conversations about privacy, money laundering, and what the telco and government can and cannot do with that data have not happened, but they're reaping the short-term benefits - Debit cards in a more convenient package.